2025 (9) TMI 649

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....ent appeal preferred by the assessee emanates from the order of the Ld.CIT(Appeals)/NFAC, dated 11.08.2025 for the assessment year 2022-23 as per the grounds of appeal on record. 2. The brief facts in this case are that the assessee filed the original return of income for A.Y.2022-23 on 13.07.2022 u/s. 139(1) of the Income Tax Act, 1961 (for short 'the Act') opting for Old Tax Regime. Further, th....

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....i) having income from business or profession, on or before the due date specified under sub-section (1) of section 139 for furnishing the returns of income for any previous year relevant to the assessment year commencing on or after the 1st day of April, 2021 and such option once exercised shall apply to subsequent assessment years; (ii) having income other than the income referred to in clause ....

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....ated 05.08.2022 had calculated taxes according to the old tax regime because nothing contained in the Section 115BAC will apply since the returned was not furnished within the due date specified u/s. 139(1) of the Act i.e. 31.07.2022 in the case of the assessee. Hence, the appeal was dismissed by the Ld. CIT(Appeals)/NFAC. 4. I have carefully considered the facts and circumstances and heard the s....

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.... though principally admitted these facts, however, relied on a decision of the Co-ordinate Bench of the Tribunal, Pune in the case of Akshay Devendra Birari Vs. DCIT, CPC, ITA No.782/PUN/2024, dated 05.06.2024. However, since the mandate of the legal provision has not been complied with by the assessee and for the fact that in case of the fiscal statutes, the provision has to be interpreted in its....